Shares of Casella Waste Systems Inc. (NASDAQ:CWST) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.00.
A number of analysts have issued reports on CWST shares. TheStreet upgraded shares of Casella Waste Systems from a “c” rating to a “b-” rating in a research note on Wednesday, May 1st. BidaskClub lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. ValuEngine lowered shares of Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Wednesday, May 1st.
In other Casella Waste Systems news, Director Michael K. Burke sold 8,389 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $37.22, for a total value of $312,238.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James F. Callahan, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $38.53, for a total transaction of $192,650.00. Following the completion of the sale, the director now directly owns 65,736 shares in the company, valued at approximately $2,532,808.08. The disclosure for this sale can be found here. Insiders have sold 281,757 shares of company stock worth $10,624,495 in the last ninety days. 9.65% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in Casella Waste Systems by 95.6% during the 1st quarter. Wells Fargo & Company MN now owns 2,613,176 shares of the industrial products company’s stock worth $92,924,000 after buying an additional 1,276,940 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Casella Waste Systems in the 1st quarter valued at approximately $27,427,000. Oak Ridge Investments LLC acquired a new stake in Casella Waste Systems during the 1st quarter valued at $13,817,000. American Century Companies Inc. acquired a new stake in Casella Waste Systems during the 4th quarter valued at $6,555,000. Finally, Macquarie Group Ltd. lifted its holdings in Casella Waste Systems by 16.8% during the 4th quarter. Macquarie Group Ltd. now owns 1,593,096 shares of the industrial products company’s stock valued at $45,387,000 after purchasing an additional 228,590 shares during the last quarter. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CWST stock traded up $2.40 during trading on Friday, hitting $45.26. 803,075 shares of the company were exchanged, compared to its average volume of 258,312. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 74.20 and a beta of 0.80. The business’s 50-day moving average is $41.24. Casella Waste Systems has a twelve month low of $24.61 and a twelve month high of $46.85.
Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The firm had revenue of $187.46 million during the quarter, compared to analysts’ expectations of $184.08 million. Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. On average, equities analysts predict that Casella Waste Systems will post 0.81 earnings per share for the current year.
About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. The company operates through Eastern, Western, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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